Feeds

Spansion settles for IP Low

$500m ain't bad

Intelligent flash storage arrays

Flash memory venture Spansion started off the day with a humble IPO but managed to reach a reduced target by the end of Friday's trading.

Spansion - the joint venture of AMD and Fujitsu - had once been looking to pull in between $16 and $18 per share from its IPO. Earlier this week, however, it reduced that target to between $13 and $14 per share and ultimately began trading today at just $12 per share, as we predicted.

Trading on the Nasdaq under the ticker symbol SPSN, Spansion closed Friday's at $13.55 per share. At that price, Spansion raised $506m in funds.

Tepid interest in the spin-off stems from the heavy costs of running a memory business and the fierce competition from rival Intel, which has been aggressive on memory pricing. AMD was losing money on flash memory before spinning off Spansion. The poor performing flash unit marred the strong recent performance of AMD's processor group.

Today, Spansion also sold 10-year notes worth $250m to pay back debts.

The company has a market cap of close to $1.4bn with AMD owning 40 per cent of the firm and Fujitsu taking 26 per cent. ®

Choosing a cloud hosting partner with confidence

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
How to simplify SSL certificate management
Simple steps to take control of SSL certificates across the enterprise, and recommendations centralizing certificate management throughout their lifecycle.